Sullivan has been serving as interim CEO since the beginning of October, having joined the firm in 2008 as senior executive vice president and chief administrative officer. He has also served as head of global distribution.
Sullivan commented: “We will seek to [grow the firm] organically and through acquisitions of teams and firms that build and diversify our affiliate managers and fill our product gaps. And, as always, we will also continue our efforts to be more efficient across all business functions.
“We have outstanding world class asset managers, an excellent global distribution platform, and a strong balance sheet. With signs that the economy is improving and renewed confidence in the markets, I believe we are in an excellent position to compete, resume growth, and enhance shareholder value.”
The asset manager has also announced that Dennis Kass will join the board of directors at the start of April. Kass, who worked as assistant secretary of labor for pension and welfare benefits in the Reagan Administration, retired as CEO of Jennison Associates in 2012.
